Volvo Signs Jeremy Lin to Endorsement Deal

The U.S. arm of Swedish car brand Volvo reached an endorsement agreement with New York Knicks basketball star Jeremy Lin that will cover several international markets but focus on the U.S. and China.

Over the next two years Mr. Lin will participate in Volvo’s corporate and marketing activities as a “brand ambassador” for Volvo Car Corp., appearing in advertising, the car maker said Monday.

The deal with Volvo, which was expected, marks one of the first major corporate contracts for the 23-year-old Knicks guard, who ascended from basketball benchdom to stardom earlier this year. The U.S.-born son of Taiwanese immigrants, Mr. Lin has captivated Chinese basketball fans, hungry for a hero since the retirement of former Houston Rockets star Yao Ming.

Terms of the endorsement contract weren’t disclosed.

Mr. Lin also has an agreement with Nike Inc. NKE +0.82%that was reached when he was a rookie. That deal initially offered little visibility or major products featuring his name but the sneaker maker is now planning a Lin-themed shoe.

Freeman Shen, senior vice president of Volvo Car Corp. and chairman of Volvo’s China operations, said the hiring of Mr. Lin was an important part of Volvo’s “brand rejuvenation,” showcasing the new Volvo brand strategy “Designed Around You” with “sportsmanship and intelligence.”

Mr. Lin is the only NBA star with a Harvard degree.

“For our region, Jeremy Lin is the pride of the whole Chinese population, and we are excited to work with him,” Mr. Shen said.

In a prepared statement, the basketball player said, “You may not immediately see the connection between me and Volvo. But both of us are striving to be better and smarter at what we do, and to do it our own way.”

The symbolism of such a deal is rich. Volvo is owned by China’s Zhejiang Geely Holding Group Co. The company is trying to boost Volvo sales in China as part of a strategy to double the brand’s global sales to 800,000 vehicles by 2020. Geely plans to invest up to $11 billion in the effort. Volvo sold about 47,000 cars in China last year, up 54% from 2010.

Other companies also are moving quickly to tap Mr. Lin’s popularity in China. German sports-apparel company Adidas AG plans to roll out the Knicks star’s jersey across its network of 6,700 stores in China.

In his first five starts with the Knicks last month after emerging from the bench, Mr. Lin set an NBA record with 136 points. His point totals have cooled off over the past few weeks.